This week’s mortgage rates declined slightly, continuing a recent “sideways trend” at the low 6% mark. Rates reflected a moderation in inflation and the banking crisis, and the consequent expectation that the Federal Reserve (Fed) is done hiking the federal funds rate. 

Per Freddie Mac‘s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.35% as of May 11, down four basis points from last week’s 6.39%. The same rate was at 5.30% on average a year ago at this time. 

“This week’s decrease continues a recent sideways trend in details ⇒

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